According to the official data unveiled by the Ministry of Trade, Industry and Energy, Korea’s exports saw 0.2percent growth as of November last year year-on-year, marking a considerable drop from 7.2% year-on-year growth recorded in October last year.

Last year, Korea’s exports failed to show a consistent recovery with the growth rate fluctuating from month to month. The growth rate of Korean exports in January 2013 rose 10.9% year-on-year but fell 8.6% in February compared to the previous year.

The nation’s exports growth rate kept an upward trend between March and August in 2013, except for June when it marked a -1.0% growth. However, exports again fell into a negative growth mode in September, followed by another up and down pattern in the following months.

Regional polarization is also seen as a major factor hindering the recovery of Korean exports, with exports to the USA, China and the EU showing a relatively sound growth rate in November at 2.9% 3.7% and 6.8%, respectively. However exports to ASEAN fell sharply by 11.2% in November. Regional polarization is also considered as a major cause blocking the recovery of Korean exports.

Korean exports to the US, China and the EU showed a relatively sound growth rate in November last year at 2.9%, 3,7% and 6.8%, respectively. But exports to the ASEAN fell sharply by 11.2% in the month.

By Kim Min-su : Here